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The European

Union
By Jamie,Javier and Borja
History of The EU
1950 French Foreign Minister Robert Schuman proposes integrating the coal and
steel industries of Western Europe.
1951 The European Coal and Steel Community (ECSC) is established, with six
members: Belgium, West Germany, Luxembourg, France, Italy and the Netherlands. A
supranational body, called the High Authority, is created to manage the coal and steel
industries.
1957 The six members of the ECSC sign the Treaties of Rome, creating the
European Economic Community (EEC) and the European Atomic Energy Community.
The EEC member states aim to remove trade barriers between them and form a
common market.
1967 The institutions of the three European communities are merged, creating a
single commission, a single council of ministers and a European parliament.
History of The EU{continued}
1979 The first direct elections for the European parliament are held,
allowing citizens to vote for candidates.
1993 The Treaty of Maastricht creates the European Union, paving
the way for monetary union.
2002 A single currency, the euro, replaces national currencies in 12
of the 15 countries of the EU.
2004 In its largest expansion, the EU welcomes 10 new countries,
and a new constitution is signed.
2005 The move to ratify the constitution suffers setbacks when
France and the Netherlands reject the document.
History of The EU {continued}
2007 Bulgaria and Romania join the EU, expanding the union to 27 member states.
2008 The value of the euro reaches an all-time high on July 18 at 1.5843 to the
dollar. But the worldwide recession begins to take its toll on the currency and
European economies later in the year.
2009 In December, the world's three main credit ratings agencies downgrade
Greece's debt, sending financial markets tumbling and raising concerns about other
weak European economies like Portugal, Spain, Ireland and Italy.
2010 As the EU struggles to contain the debt crisis, Standard & Poor's in April
downgrades Greece's sovereign debt to junk status, and cuts Portugal and Spain's
credit ratings. Eurozone finance ministers meet in May to approve a 110-billion-euro
loan package to Greece. In June, the euro reaches a four-year low, falling below $1.19.
Countries In The EU
EU Institutions
Theinstitutions of the European Unionare the seven
principal decision making bodies of theEuropean Union.
They are, as listed in Article 13 of the
Treaty on European Union: theEuropean Parliament, the
European Council, theCouncil of the European Union,
theEuropean Commission, the
Court of Justice of the European Union, the
European Central Bankand theCourt of Auditors
.Institutions are different from
agencies of the European Union.
Advantages of The EU
1. Tax Free Trading Among Members
One of the biggest benefits that are offered to the member countries of the EU is that they are free to trade with
other members at no additional taxation. This helps to keep prices of goods and food down in these countries.
2. Opens Up More Opportunities
Movement between all of the countries in the EU is completely free and open for all citizens. This opens up many
more job and education opportunities for people. Especially ones who are in poor countries.

3. Culture Is Not Lost


The EU has never had an official language and doesnt interfere with the cultural aspects of any country. This
helps to ensure that, while you are part of the union, you are also your own country.
4. A Common Currency
All of the member countries of the EU have the same type of currency, the euro. This makes doing business,
traveling or moving to other countries, and buying things much simpler. It also creates a sense of unity among the
countries.
5. No Conflict Between Nations
There are strict guidelines followed for any issues that occur within the EU. This prevents any of these countries
from getting into large political or economical problems with one another and promotes peace throughout the
continent.
Disadvantages of The EU

1. Communication Barriers
It becomes very difficult for the EU to communicate with all of its citizens because they all speak different language. This also
impact the feeling of unity among its members. It makes it harder to bring people together.
2. Shared Wealth Is Not Always Good
Large and wealthy countries that are members of the European Union, like Germany, have to share their wealth with much
smaller and poorer countries. This prevents any one country from becoming too powerful, which is a bad thing for countries
that have the ability to become world leaders.
3. Leaving Is A Problem
Once a country decides to join the EU, it is extremely difficult for them to leave it. This makes many people uneasy from
joining, because if it negatively effects their country, there is little that they can do about it.
4. Discriminates Against Potential Members
In order to join the European Union, you must be a part of Europe. Europes borders are largely undefined, which gives the
EU the power to pick and choose who they would like to join the union.
5. Takes Power From Governments
The European Union has power over the government in these countries. This means that if they do not like a political leader,
they can simply kick them out of office. It is very simple for this to breach the lines of corruption and cause major problems in
government sectors.
6. Serves The Interest As A Whole, Not A Country
The policies, decisions, and rules set in place by the European Union are not there to protect the best interest of each
individual country. Instead, their goal is to advance the EU as a whole. This has caused many damages in smaller countries,
that are often left unheard.
President Of The European
Parliament
ThePresident of the European Parliamentpresides over the debates
and activities of theEuropean Parliament. He or she also represents the
Parliament within the EU and internationally. The president's signature
is required for enacting mostEU lawsand theEU budget.
Presidents serve two-and-a-half-year terms, normally divided between
the two majorpolitical parties. There have been twenty-eight presidents
since the Parliament was created in 1952, thirteen of whom have served
since thefirst Parliamentary election in 1979 . Two presidents have been
women and most have come from the oldermember states. The current
president isMartin Schulzof Germany.
Currencies In The EU
There are elevencurrenciesof theEuropean Unionas
of 2015, the principal currency being theEuro. The Euro
is used by theinstitutions of the European Unionand by
theEurozonestates, which account for 19 of the 28
member states of the European Union. All but two states
are obliged to adopt the currency; Denmark and the
United Kingdom, through a legalopt-outfrom the
EU treaties, have retained the right to operate
independent currencies within the European Union. The
remaining eight states must join theERM IIand attain the
third stage and adopt the Euro eventually.
Brexit
TheUnited Kingdom'swithdrawal from the European Union is commonly known
asBrexit, aportmanteauof "British exit".[1]Following a
UK referendum held in June 2016, in which 52% of votes were cast in favour of
leaving the EU, Prime MinisterDavid Cameronresigned.Theresa Maybecame new
Prime Minister and announced that the government intended to invoke
Article 50 of the Treaty on European Union , the formal procedure for withdrawing,
by the end of March 2017. This, within the treaty terms, would put the UK on a
course to leave the EU by the end of March 2019 if no negotiated withdrawal
agreement is reached. May has promised abillto remove the
European Communities Act 1972 from thestatute bookand to incorporate existing
EU lawsintoUK domestic law.[2]The terms of withdrawal have not yet been
negotiated; in the meantime, the UK remains a full member of the European Union.
Brexit {continued}
The UK joined theEuropean Economic Community(EEC),
a predecessor of the EU, in 1973, and confirmed its
membership ina 1975 referendumby 67% of the votes.
Historical opinion polls 1973-2015 tended to reveal
majorities in favour of remaining in the EEC, EC or EU. In
the 1970s and 1980s, withdrawal from the EEC was
advocated mainly by someLabour Partyandtrade union
figures. From the 1990s, withdrawal from the EU was
advocated mainly by someConservativesand by the newly
foundedUK Independence Party(UKIP).